Tuesday, October 6, 2009
The technology sector has taken a beating since its heyday in 2000, but prices are up an impressive 84% from the lows of last November. Not a bad recovery from a situation which many thought marked the end of the world as we knew it. Just 16% more and the tech sector will have recovered all that it lost in last year's debacle, on top of posting 10% net annualized price gains since 1997. In contrast, the less-exciting consumer staples sector has registered price gains of only 3.7% annualized over the same period.
Stocks can be a wild and woolly ride at times, but they can also pay off handsomely if one has patience. Apple stock, for instance, has soared 144% from its January low of $78, and is only $10 below its all-time high of $200 at the end of 2007.
Posted by Scott Grannis at 4:00 PM